Netgear reports Q1 adjusted EPS 2c vs (28c) last year

Reports Q1 revenue $162.1M, down 1.5% y/y. CJ Prober, Chief Executive Officer, commented, “We are very pleased with the progress of our ongoing transformation and the execution of our global teams. All of our business units delivered at or above our expectations with year-over-year contribution margin improvements for each of more than 400 basis points. Our outperformance was led by stronger than expected demand for our ProAV managed switches, excellent supply chain execution and diligent expense management. These combined to produce revenue and operating margin above the high end of guidance and positive non-GAAP EPS for the quarter. We also completed an acquisition involving VAAG Systems to form the foundation for our new software development center in Chennai, India, a move that will lead to faster, higher quality software execution in a lower cost model given reduced reliance on expensive outsourced software development partners. With a continued focus on improving our software capabilities, building out our product portfolio and expanding our best-in-class team, NETGEAR (NTGR) is well positioned to improve revenue and profitability as we move through 2025 and execute on our transformation.”